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Financial TLC for the Holidays

Financial TLC for the Holidays

December 03, 2022

Financial TLC for the Holidays

All year long, you’ve read about budgeting, saving, and investing. Perhaps you are practicing some of the positive financial habits mentioned.

But all of that is about to be tested because the holidays are now upon us.

In addition to preparing for the holiday get-togethers, it is a time when children and relatives may come-a-calling with their lists of gifts they want (or expect) to receive, when travel plans are made, and guests with plans for extended stays are on their way. It is possible to feel overwhelmed as you consider these questions: How much will it cost? Who will pay for it and how? We can answer these questions with a little TLC: Time, Leverage, and Care.

Invest your time in writing a one-page plan that covers the next few months. What are the events you expect to attend? Are you expected to deliver a gift? To whom will you deliver gifts this year? Will you send out holiday cards? Are you traveling over the holidays or expecting guests? For each of these items, write out how much you may need to spend to cover your costs. Taking 30-60 minutes to write out a plan may give you peace about the upcoming expenses because you can choose how to handle them.

Leverage the points you have accumulated on your credit card this year to cover expenses like gifts or travel. In this way, you are using your credit card responsibly by not accumulating additional debt and instead taking advantage of the rewards you’ve earned for the year. What programs are available with your credit card? Are you rewarded for purchases with cash back or points? Take some time to find out how your credit card rewards program works and whether it makes sense for you to use your card in this way.

Finally, choose craft over cash by investing your time in a hobby that demonstrates how much you care. What are your hobbies? Do you have a skill, like baking, in which you may spend a little amount of money and some time to create homemade goods that will be enjoyed by others? Consider spending money on items to support your craft and deliver a product that shows you care.

The holiday season is cause for celebration and, with a little TLC, you may create a positively memorable time for yourself and those around you.

Wendolyn Forbes is a CERTIFIED FINANCIAL PLANNER™ with Wealth Transition Finance, A Member of Advisory Services Network, LLC, where she offers financial planning and investment management services for either a one-time or on-going cost. For more information, visit

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP® (with flame design) in the US, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

This material is provided as a courtesy and for educational purposes only.  Advisory Services Network, LLC does not provide tax advice.  The tax information contained herein is general and is not exhaustive by nature.  Federal and state laws are complex and constantly changing. Consult your own legal or tax professional for information concerning your individual situation.

Originally published in the December 2022 issue of Positively Haywood by Vicinitus available here: